Business/Consumer Services

ISS swings to net profit; maintains 2015 outlook

JensHansegard

STOCKHOLM--Danish service-industry giant ISS (ISS.KO) Thursday said it maintains its outlook for 2015 as it swung to a first-quarter net profit.

ISS, which employs more than half a million people in cleaning, property management, security and catering, confirmed that it expects organic growth of 2% to 4% in 2015. It also said it expects to post an operating margin above the 5.6% achieved in 2014, and cash conversion above 90%.

Net profit in the first quarter was 296 million Danish kroner ($44.07 million), from a loss of DKK34 million in the same period last year.

The company said revenue in the quarter was DKK19.15 billion, compared with DKK18.25 billion in the same period last year, while the operating profit rose to DKK824 million from DKK681 million.

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